Saudi SABIC reaches record high in obtaining patents

(MENAFN) Basic Industries Corporation (SABIC) became the largest owner of intellectual property in the Middle East after having over 10.000 patents, according to Arab News.

The company reached a record high in obtaining patents reaching 373 patent application in 2013, 300 percent higher than reported in 2010.

In 2014, the company could further increase its patent applications by 159 only in the first quarter.

SABIC Executive Vice President, Technology and Innovation Ernesto Occhiello, said: "Intellectual property is an important tool to help SABIC achieve its business goals. Our 10,400 global patent dockets are a reflection of our emphasis on innovation to support our growth."

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